Navigating the challenges in QLD’s rental market - The Community Leader and Real Estate New and Views
Real Estate

It’s a challenging time in the Queensland rental market, and as we gather insights and perspectives, it’s clear that the solution hinges largely on supply. In recent discussions, including my appearance on ABC radio alongside Paul Tomasini from the Tenancy Skills Institute (InCommunity), we dissected the intricate dance between investing in properties and the growing hardships for tenants.

The reality is stark – our rental markets are squeezed. With interest rates climbing, many investors find themselves in a tight spot, compelled to sell off properties, which in turn exacerbates the supply issue. This shortage has inevitably led to soaring rental prices, creating a cycle of hardship for tenants and investors alike.

State responses have been less than encouraging, with investors often painted in a less-than-favourable light. This narrative is not only unhelpful but overlooks the core issues at hand. The immediate need is for more proactive engagement from our state government. We need policies that bolster investor confidence and facilitate the expansion of rental supply – cutting through the red tape to make property investment smoother and more attractive.

While there are temporary relief measures in place, such as the grants provided by InCommunity to help sustain tenancies, these are short-term fixes. We need to drive conversations that lead to long-term solutions. The plans currently on the table predict a five-year timeline before we see significant changes.

However, the urgency of the situation demands swifter action.

How can we make a difference? It starts with collective action. Joining organisations like the Property Investors Council of Australia and reaching out to your local MPs in the postcodes of your investment properties can amplify our voice. It’s time for the silent majority to speak up and make our concerns heard.

There’s a glimmer of hope on the horizon with rumours of potential interest rate cuts by year’s end. Such changes could provide the breathing room needed for investors to hold onto their properties and possibly reinvigorate the market.

Let’s rally together for the future of Queensland’s property market. Your investment, voice, and advocacy are crucial as we strive for a balanced, thriving market that benefits everyone involved.

CONTRIBUTED BY Samara Bedwell, Macwell property